Daily Financial Markets Report | Monday, 22 September 2014

sacciDaily Financial Markets Report sources information from Business Day, Reuters, JSE Ltd and others.

Highlights

 U.S. stocks ended Friday’s volatile session mixed, but the Dow Jones Industrial Average eked out a gain and closed at a record high. The main benchmarks ended an eventful week with gains, supported by favourable outcomes in two ‘risk events’ this week. The Federal Reserve reiterated its commitment to facilitating the U.S. economic recovery by maintaining its view on the timing of interest-rate hikes, and Scotland voted to remain part of the United Kingdom. Most European stock markets finished the week on a high note on Friday, with the benchmark Stoxx Europe 60 index ending at the highest level in two weeks. Hong Kong stocks moved significantly lower Monday morning, one day ahead of HSBC’s preliminary read on Chinese manufacturing activity

 Spot gold is currently trading at US$ 1 214.90/oz. and platinum at US$ 1 332.10/oz. Brent crude oil is currently trading at US$ 97.90 per barrel.

 The US dollar is currently trading at 1.28 to the euro, 1.63 to the pound and will buy 108.79 Japanese Yen or 11.08 South African Rand.

International markets

U.S. stocks ended Friday’s volatile session mixed, but the Dow Jones Industrial Average eked out a gain and closed at a record high. The main benchmarks ended an eventful week with gains, supported by favourable outcomes in two ‘risk events’ this week. The Federal Reserve reiterated its commitment to facilitating the U.S. economic recovery by maintaining its view on the timing of interest-rate hikes, and Scotland voted to remain part of the United Kingdom. Most European stock markets finished the week on a high note on Friday, with the benchmark Stoxx Europe 60 index ending at the highest level in two weeks. Hong Kong stocks moved significantly lower Monday morning, one day ahead of HSBC’s preliminary read on Chinese manufacturing activity

The S&P 500 closed virtually flat at 2 010.41 and was 1.3% higher over the week. The Dow Jones Industrial Average gained 14.07 points, or 0.1%, rising to 17 280.06, notching its 18th record close this year. The Nasdaq Composite fell 13.64 points, or 0.3%, to 4 579.79.

The pan-European Stoxx Europe 600 index climbed 0.2% to close at 348.52, marking the highest close since 4 September. On the week, the benchmark rallied 1.2%. The U.K.’s FTSE 100 index climbed 0.3% to 6 837.92, in relief that the U.K. will stay together. France’s CAC 40 index underperformed the other major bourses and ended 0.1% lower at 4 461.22 amid rumors that Moody’s Investors Service might downgrade the country’s credit rating later on Friday.

The Hang Seng Index declined 1.1%, as real-estate stocks fell heavily amid reports about a group of property companies in the northern city of Handan set to default on allegedly illegal private loans worth 9.3 billion yuan ($1.5 billion). Over on the Chinese mainland, the Shanghai Composite Index fell 0.6%.

The US dollar is currently trading at 1.28 to the euro, 1.63 to the pound and will buy 108.79 Japanese Yen or 11.08 South African Rand.

Domestic markets

The benchmark Top-40 index slipped 0.14% to 46 163 while the wider All-share index dropped 0.16% to 51 462.

Commodities

Spot gold is currently trading at US$ 1 214.90/oz. and platinum at US$ 1 332.10/oz. Brent crude oil is currently trading at US$ 97.90 per barrel.

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